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Packager slams claims that the sector is dying

A Professional Mortgage Packagers’ Association board member has hit out at claims that depolarisation will mean the death of the packaging industry.

All Types of Mortgages managing director Vic Jannels says comments in
Money Marketing from IFAs who believe the packager market will
diminish are wrong.

Jannels believes lenders will continue to pay packagers for
origination, distribution, design, marketing and admin services.

He says packagers still offer a valuable service for advisers and
that most pay full procuration fees without deduction. He adds that
although advisers could go straight to lenders, they will not get an
additional packaging payment.

Jannels says that without packagers, advisers would not have access
to exclusive products that packagers obtain as a result of volume
production and the high number of completions.

But Jannels does concede that packagers which continue to perform as
“pure packagers” will have a limited lifespan.

He says: “I do not see reports of the packagers predicting doom and
despondency in the IFA market. Perhaps it is best if we all stick to
our knitting and concentrate on what we do best. The packager market
is alive and kicking.”

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